Cairo - Mubasher: Pharos has upgraded the fair value (FV) evaluation of Credit Agricole to EGP 57, with an overweight recommendation.
The research firm said that the return on the bank’s investments is expected to rise 39% by the end of 2017, compared to 25% for the Commercial International Bank (CIB).
Credit Agricole - Egypt profits surged 49% year-on-year in the first half of 2017 due to higher net interest income.
The bank achieved profits of EGP 941.6 million in the six months ended June from EGP 630.2 million in the same period of the year before.
The bank’s interest income grew to EGP 2.23 billion in H1-17 from EGP 1.46 billion in H1-16.
